Neoliberalism and Resistance in South Africa: Economic and Political Coalitions (Contemporary African Political Economy)

✍ Scribed by Shaukat Ansari

• Publisher: Palgrave Macmillan
• Year: 2021
• Tongue: English
• Leaves: 186
• Category: Library

✦ Synopsis

This book critically examines the persistence of market orthodoxy in post-apartheid South Africa and the civil society resistance such policies have generated over a twenty-five-year period. Each chapter unpacks the key political coalitions and economic dynamics, domestic as well as global, that have sustained neoliberalism in the country since the transition to liberal democracy in 1994. Chapter 1 analyzes the political economy of segregation and apartheid, as well as the factors that drove the democratic reform and the African National Congress’ (ANC) subsequent abandonment of redistribution in favor of neoliberal policies. Further chapters explore the causes and consequences of South Africa’s integration into the global financial markets, the limitations of the post-apartheid social welfare program, the massive labour strikes and protests that have erupted throughout the country, and the role of the IMF and World Bank in policymaking. The final chapters also examine the political and economic barriers thwarting the emergence of a viable post-apartheid developmental state, the implications of monopoly capital and foreign investment for democracy and development, and the phenomenon of state capture during the Jacob Zuma Presidency.

✦ Table of Contents

Preface
Contents
List of Figures
1 Financialization as a New Regime of Accumulation: Business, Apartheid, and the Neoliberal Transition
1.1 Introduction
1.2 The Shifting Political Economy of Segregation, Autarky, and Liberalization
1.3 Financialization of the Post-apartheid Economy
2 Bureaucratic Fragmentation, Cash-Transfers, and Financial Markets: Policymaking in the Post-apartheid Neoliberal Landscape
2.1 The South African Bureaucracy, Economic Development, and Global Financial Markets
2.2 The Fiscal Policy and Income Redistribution: Political Consequences of Financial Liberalization
2.3 Financialization and Intergovernmental Conflict: Policy Fragmentation and Treasury Dominance
Appendix: A Primer on Bonds and Yields
3 Political Resistance to Neoliberalism: Cracks in the Post-apartheid Corporatist Arrangement
3.1 The Tripartite Alliance: Origins, Cracks, and Implications for Policymaking
3.2 The Marikana Massacre and Labour Unrest
3.3 New Political Resistance to the Neoliberal Growth Model
3.4 Zuma’s Initial Ascension to Power and the Left-Wing Political Coalition
4 Early Forms of State Resistance to Neoliberalism: The International Monetary Fund in South Africa
4.1 The Policy of the International Financial Institutions in South Africa During Apartheid
4.2 The IMF: Evolution and Involvement in South Africa
5 Forging a Developmental State in Post-apartheid South Africa: A Comparative Analysis of the Structural and Political Barriers to Industrialization
5.1 State-Led Industrialization in the Global South: Policy Divergence Among the Late-Industrializers
5.2 Attempting to Forge a Developmental State in Post-Apartheid South Africa: Minor Successes Amid Institutional Failures
5.3 The Post-Apartheid Economic Landscape: Monopoly Capital or Foreign Ownership as a Barrier to State-Led Inclusive Development and Growth?
6 Conclusion: Incentives for ‘State Capture’ and Dis-Incentives for Industrialization 
6.1 Incentive Structures Driving State-Capacity
6.2 Zuma, State Capture, and Economic Transformation
Index